摩托车头部企业隆鑫通用（603766.SH）经营业绩持续高速增长。 长江商报消息 ●长江商报记者 张璐 对此，隆鑫通用表示，受益于摩托车业务及通用机械业务规模增长，以及无极系列产品结构持续优化， 公司整体业绩实现同比增长。 分季度来看，2025年一季度，隆鑫通用实现营收46.46亿元，同比增长40.98%；实现归母净利润、扣非 归母净利润分别为5.07亿元、4.84亿元，同比分别增长96.79%、95.97%。据此计算，二季度公司归母净 利润在4.98亿元—6.13亿元，扣非净利润则在4.81亿元—5.96亿元。 7月7日，隆鑫通用公告称，预计2025年半年度实现的归母净利润为10.05亿元—11.2亿元，同比增加 70.52%—90.03%。2025年上半年，受益于公司摩托车业务及通用机械业务规模增长，以及无极系列产 品结构持续优化，公司整体业绩实现同比增长。 长江商报记者注意到，近些年，隆鑫通用持续深化"摩托车+通机"主业布局，完善通用机械产品矩阵， 整体毛利率稳中有升。2021年—2024年，其毛利率从13.77%增长至17.59%。2025年一季度，公司毛利 率达18.9%，较上年同期增加1.19个百 ...

Core Viewpoint - 隆鑫通用动力股份有限公司 reported significant growth in revenue and net profit for the year 2024, driven by strong performance in the motorcycle and general machinery sectors [15][17]. Company Overview - 隆鑫通用 is a leading manufacturer in the motorcycle industry, maintaining the top position in exports for 19 consecutive years, with a total motorcycle sales volume of 16.46 million units in 2024, a year-on-year increase of 12.99% [2][3]. - The company specializes in various products including two-wheeled motorcycles, three-wheeled motorcycles, motorcycle engines, all-terrain vehicles, and general machinery [4][5]. Industry Performance - The motorcycle industry in China saw a total sales volume of 16.46 million units in 2024, with domestic sales declining by 16.56% to 8.91 million units, while exports increased by 26.72% to 11.02 million units [2]. - The market for large-displacement leisure motorcycles (over 250cc) grew significantly, with sales reaching 756,600 units, a year-on-year increase of 42.97% [3]. - The general machinery sector experienced a total sales volume of 47.72 million internal combustion engines, marking a 6.67% increase year-on-year [4]. Financial Highlights - The company achieved a revenue of 4.646 billion yuan in 2024, representing a year-on-year growth of 40.98%, and a net profit of 507 million yuan, up 96.79% [15]. - Motorcycle product sales contributed 2.742 billion yuan, with export revenue reaching 310 million USD, a 55.23% increase [15]. - The company’s all-terrain vehicle sales increased by 74.36%, generating 107 million yuan in revenue [16]. Business Model - 隆鑫通用 operates through a comprehensive business model that includes research and development, procurement, production, and sales [6][10]. - The company has established a robust R&D structure with nearly 1,600 personnel, focusing on market-driven innovations [7]. Legal and Financial Matters - The company is currently involved in legal proceedings regarding receivables, with a balance of 666 million yuan and significant provisions for credit impairment [18]. - The company is also in the process of transferring its stake in the Italian CMD company, with ongoing negotiations and conditions to be met for completion [19][20].